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Mullooly Asset Management

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Timothy Mullooly on the Bearish Catapult

What is a Bearish Catapult?

March 9, 2015 by Brendan Mullooly, CFP®

Last week I talked about a point and figure pattern called the bullish catapult. This week Tim explains its less friendly counterpart, the bearish catapult.

As you might have been able to gather from its name, the bearish catapult is not a positive pattern. It involves a triple bottom sell signal, followed by a double bottom sell signal. In the video, Tim has an example up on our big board. You can clearly see the accelerating negativity this pattern describes.

In addition to the triple bottom sell signal and the ensuing double bottom sell signal, lower tops are also made during the bearish catapult pattern. Lower tops tell us that demand in the security is drying up and supply is taking over. More supply and less demand is a recipe for lower prices. Bearish catapults are often (but not always) seen in negatively trending securities.

Check out the video for a great example from Tim!

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Filed Under: Videos, Chart School, Technical Analysis Tagged With: point and figure

About Brendan Mullooly, CFP®

Brendan Mullooly is a CERTIFIED FINANCIAL PLANNER™professional with Mullooly Asset Management, Inc.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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